The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Another positive, is with a 10% bill, instead of close to 25 million which has been having over our heads since the car salesman days, so let's get the financing out of the way and prove to all the negative posters we still have a product that`s well and truly in demand. GLA
An awful lot of info to digest in one go, but as a whole it looks very promising. The future looks bright once again .
Graham is slowly turning this ship around after JP left it floundering on a rocky shoreline…. Can’t see the SP staying at this level much longer the future is finally looking good for SOU again.
Even better??
"Post period end, the Company entered into a settlement agreement with Morocco tax authority on a phased payment schedule back ended over 6 years of approximately US$2.5 million as a full and final settlement against a claim of approximately US$23.95 million."
If i'm interpreting this correctly it is a tremendous outcome. I suspect this has been "buried" in the notes of the final year end accounts without fanfare because the company didn't want to upset the Moroccan authorities
Post period end, the Company entered into a settlement agreement with Morocco tax authority on a phased payment schedule back ended over 6 years of approximately US$2.5 million as a full and final settlement against a claim of approximately US$23.95 million.
We are pleased to have settled our outstanding tax matters such that we can optimise our resources on field development.
Post period end, the Company has entered into a full and final settlement of its tax disputes with the Moroccan tax authorities, subject to the Court agreeing that all cases be withdrawn
https://www.londonstockexchange.com/news-article/SOU/final-results/15942709
Graham Lyon, Executive Chairman said:
"2022 was a year of real tangible progress for Sound Energy, with the micro-LNG development at Tendrara contracted to deliver maiden revenues in early 2024. I am pleased that, as we move further into construction activities, the Company continues to uphold all our ESG values and deliver our work in a manner commensurate with our principles. We are pleased to have settled our outstanding tax matters such that we can optimise our resources on field development. We have enjoyed a supportive working relationship with ONHYM, the Ministry and our various contractors in Morocco, and, most importantly, we continue to benefit from the hard work and dedication of our own staff. We will continue to work diligently to deliver value and progress for all our stakeholders during 2023 and beyond as we target to deliver material developments.''
Hello Crude, the Moroccan trip was something great to remember ( not the failure of the drill ) throughly enjoyed it & met some lovely people, yes!! That Taxi ride was unforgettable?
Hey Mebo, like you I believe there is a chance for long holders to recoup - and even make money, here at Sound. All depends on how loyal shareholders are considered regarding funding. Anyway, I still hold the memory of our Moroccan trip & those taxi rides - one of which broke down. I enjoyed everyone's company so much & it was such a 'gas'meeting up. Memories & experiences like that are precious. You can't go to a travel agent & book a tour of an oil/gas rig....but we did through 'Sound Energy Tours' & it was superb!
Looking forward to the Coronation: Long Live the King.
KTF, you’re last part to your post is what I’ve believed in for a long time,,,,,sentiment,,,,, many holders know the history of this share because many like myself are still stuck with it.
I’ve massively averaged down, now JP is out of the way this is like a new dawn (so to speak) the new board are better focused in my opinion & as far as first impressions go Gl who I’ve only met once came across we’ll & believe me in my job it doesn’t take long to think this is a wrongun.
We all (long term holder) know, fingers crossed the potential & as me are sticking around, good luck all.
Spencer, it's a tricky one to value (at least for me) at the minute.
you could look at Price / Earnings ratio once they are generating revenue, and perhaps future P/E ratio based on sales agreements in place.
However, this ignores the value of potential upside from exploration, which I believe is huge.
for me a cash generating company engaged in exploring additional prospective acreage for potentially huge discoveries is a very special opportunity.
whatever you do, think market cap, not price per share.
current market cap is a piddly £32 million. compare this to comparable companies and you should see this is very undervalued.
I would guess a market cap in the £200M + would not be unreasonable, which equates to 11p/share at the minute.
but there are a lot of moving parts here. on Aim sentiment is king. remember this went to a market cap of £800M or so from memory.
My knowledge of shares is limited.but to those out there who knows how to value . What would be a reasonable share price after we successfully sign the deal. I know it will not pounds as it's two years to build the pipeline and generate income. But what would we be looking at price wise 3p 5p any idear
The calm before the storm.
No stress for me. I can take a reality check from PS. Glad he's prepared to post. Crude too.
Fingers crossed. Have to say my patience is wearing thin now though.....we are 'pushing on an open door ' ....do we need to push a bit harder?
Parsons , I have not got the time of day for , but Graham I have
I think once things start moving we may find buyer’s appear for the other discovered gas , skb is already a discovery, so hopefully Lady Luck will be kind & push us forward… gla
They seem to be progressing in Morocco too.
We have been in Morocco 7 years now.....time for a gsa soon surely!?
Hi, I feel the negatives are creeping in if anybody feels this is not going to work out why not sell up? Save on stress levels.
PS, what we need is progressive, innovative financial solutions. Current Management will kill this stone dead for veteran Sound Energy investors if they do a 'Gerry Orbell' on us!. Our one-time CEO ,pre Parsons, nearly drowned us in shares. Say what you will about J. Parsons but he did at least take a different attitude regarding the raising of cash. This is possibly the one reason historic shareholders are still in the game. Once shares have been issued there a very rarely any share buy-backs on the AIM! Debt, however, can be paid back or credit extended, pending production revenue. I just hope they think about their loyal shareholders when deciding on their future CAPEX requirements!
Crude
"2p or not £2 ….very soon that’s the question ? Buy Buy Buy Buy Buy Buy Buy before it does !!"
I see we have a new chief ramper and they're getting lots of upvotes :-\
Talk about delusions in the desert! Two quid??? SP Angel values the whole of Phase 1 and Phase 2 at 7p per share! And it's not clear what assumptions they've made about the remaining Phase 2 finance requirements. I've no doubt when the Attijariwafa deal closes there will be people buying at 3p who wouldn't buy at 1.5p. SOU may get a good raise on the back of it too. It's also possible they have an "oven ready deal" on the remaining finance just waiting for the senior debt to be finalised. Given SOU's history, though, I would not be remotely surprised to find we're not even off the starting blocks with the farmout. In any event there would be further due diligence to go through. And I can't remotely imagine someone putting up $60m for SOU's share of remaining Phase 2 finance, PLUS a free carry on three drills, without covering their a$$ is the case of drilling failure. That means getting enough of a chunk of Phase 2 revenue to cover their costs, in other words a ton more equity dilution. I also expect the whole thing to drag on for a minimum of another year before Phase 2 construction even begins. Short term price spike and gradual drift back down, with everyone scratching their heads as usual as to why the SP isn't higher. Just my pessimistic tuppence worth which I know everyone's dying to hear :) :) :)
I've got echo's of "hold on to them golden tickets" in my ears... ;-)
The bank we are dealing with for financing are very rateable: https://www.moroccoworldnews.com/2023/04/355231/moroccos-attijariwafa-bank-among-africa-middle-easts-30-largest-banks
2p or not £2 ….very soon that’s the question ?
Buy Buy Buy Buy Buy Buy Buy before it does !!
Quite surprised we are not well past 2p right now